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Kroenke Sports Completes Outdoor Buy

Shareholders Approve Deal
By: Mike Farrell May 17 2013 - 10:04am
Shareholders Approve Deal

As expected, Kroenke Sports & Entertainment completed its previously announced acquisition of Outdoor Channel Holdings, Inc., for $10.25 per share in cash, pursuant to which Outdoor Channel has become a wholly-owned subsidiary of KSE.

Outdoor Sets May 16 Date For Shareholders Meeting

Will Vote on Kroenke Sports & Entertainment Offer
By: Mike Farrell May 13 2013 - 5:38pm
Will Vote on Kroenke Sports & Entertainment Offer

 

Outdoor Channel said Monday that it will hold a special meeting of shareholders at its headquarters in Temecula, Calif., at 2:30 PST on May 16 to vote on Kroenke Sports & Entertainment’s $10.25 per share all cash offer to purchase its outstanding stock.

InterMedia: Outdoor Bidding is Done

Sportsman Parent Says Will Focus on Growing Existing Network
By: Mike Farrell May 9 2013 - 12:35pm
Sportsman Parent Says Will Focus on Growing Existing Network

In the end, the man with the biggest checkbook appears to have prevailed in the ongoing bidding war for Outdoor Channel.

In an interview Thursday, InterMedia Partners managing partner Peter Kern said the Sportsman Channel parent will not stand in the way of billionaire Stan Kroenke’s Kroenke Sports & Entertainment’s latest offer for Outdoor – a $10.25 per share all cash bid that was launched Wednesday evening.

Kroenke Sports Again Ups Outdoor Ante

$10.25 Per Share Offer Latest in Volley With InterMedia Partners
By: Mike Farrell May 8 2013 - 8:58pm
$10.25 Per Share Offer Latest in Volley With InterMedia Partners

In the seemingly endless volley between suitors for The Outdoor Channel, Kroenke Sports  & Entertainment appears to have the latest advantage, lobbing in a bid for $10.25 per share and besting an earlier $9.75 per share offer by InterMedia Partners.

Outdoor Says InterMedia Proposal 'Superior'

Gives Kroenke Sports Four Days to Submit Better Offer
By: Mke Farrell May 6 2013 - 6:10pm
Gives Kroenke Sports Four Days to Submit Better Offer

Outdoor Channel said late Monday that its board of directors has deemed InterMedia Partners $9.75 per share offer for the company "Superior" and has given Kroenke Sports & Entertainment until May 9 to come up with a better deal.

Outdoor Shares Surge On Latest Offer

Stock Up 6%, Investors Gear For Bidding War
By: Mike Farrell May 3 2013 - 1:35pm
Stock Up 6%, Investors Gear For Bidding War

InterMedia Partners continued the bidding war for Outdoor Channel Friday, raising the ante once again for the outdoor life network, goosing the stock and giving investors hope that the back-and-forth of the past few days will continue to drive up shares.

InterMedia’s $9.75 per share bid trumps the $9.35 per share offer by rival Kroenke Sports & Entertainment, which in turn was a response to InterMedia’s $9.15 per share all-cash offer, made on April 30.

InterMedia Raises Outdoor Bidding to $9.75 Per Share

Says Offer Good Until May 10
By: Mike Farrell May 3 2013 - 10:07am
Says Offer Good Until May 10

Intermedia Partners kept the bidding war for Outdoor Channel alive Friday, increasing its bid for the network to $9.75 per share and leaving rival Kroenke Sports & Entetrainment the decision to ante up or go home.

InterMedia raised the stakes for Outdoor on April 30, lobbing in a surprise $9.15 per share bid for the channel, beating Kroenke Sports’ $8.75 per share all-cash bid. Not to be outdone, KSE raised its bid to $9.35 per share on May 2, which Outdoor accepted, apparently shutting the door on InterMedia.

Kroenke Ups Offer For Outdoor Channel

Network Accepts Denver Group’s Sweetened Offer of $9.35 Per Share
By: Mike Farrell May 2 2013 - 7:12pm
Network Accepts Denver Group’s Sweetened Offer of $9.35 Per Share

It looks as if the proxy fight for Outdoor Channel is over soon after it started, with Kroenke Sports & Entertainment agreeing to increase its offer for the outdoor lifestyle network to $9.35 per share, besting a  $9.15 per share bid made by rival InterMedia Partners on April 30.

In a statement, Outdoor Channel said it has accepted the sweetened Kroenke bid and recommends that its shareholders vote in favor of the deal in a special meeting of stockholders slated for May 8 at 9 a.m. PST at Outdoor Channel headquarters in Temecula, Calif..

Liberty Media Completes Charter Investment

$2.6 Billion for 27.3% Stake in Cable Operator
By: Mike Farrell May 1 2013 - 4:30pm
$2.6 Billion for 27.3% Stake in Cable Operator

Charter Communications and Liberty Media said Wednesday that Liberty has completed its $2.6 billion investment in the cable operator.

Back in March, Liberty said it would purchase 26.9 million Charter shares and 1.1 million warrants from investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners for $95.50 each. The deal gives Liberty beneficial ownership of 27.3% of Charter’s outstanding shares.

InterMedia: ‘Nobody in Better Position To Own Outdoor’

Stock Soars on New Bid as Investors Anticipate Bidding War
By: Mike Farrell Apr 30 2013 - 6:21pm
Stock Soars on New Bid as Investors Anticipate Bidding War

Outdoor Channel stock soared in after-hours trading Tuesday, up 8% (72 cents each) to $9.47 per share as of 6:07 p.m., a sign that investors believe InterMedia Partners has touched off a bidding war with Kroenke Sports & Entertainment for the hunting and fishing network.

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